The Match Out: ASX up a touch – not much happening today!

A quiet Monday to kick off the new trading week with the index failing to live up to the levels implied by SPI Futures on Saturday morning. A tick over 50% of the main board traded higher, however it was a session void of any real impetus in either direction – Banks up a touch, resources mixed and a bit chop-chop elsewhere!

• The ASX 200 finished up +9pts/ 0.13% to 7058
• The Energy sector bounced back (+1.33%) while Consumer Discretionary (+0.64%) and Financials (0.56%) outperformed.
• Staples (-0.83%), Utilities (-0.71%) and Property (-0.40%) the weakest links.
• Healius (ASX: HLS) Halted, is preparing to launch an equity raise to help its brittle balance sheet, apparently Barrenjoey has the gig with shares expected to be issued at a 30% discount to last, raising ~$200m
• Uranium stocks were back on the up today after a recent pullback, Paladin (ASX: PDN) +3.09% back at $1.00.
• Gold struggled, Northern Star (ASX: NST) -2.55% while Evolution (ASX: EVN) showed its resilience down just ~0.8%.
• Star Entertainment (SGR) -4.46% continues to burn those who try and pick a bottom, 53.5c today, well down on the recent raise price of 60c.
• Pexa (ASX: PXA) +2.32% has been under a lot of pressure in recent months, however, we think it represents solid value at current levels.
• Orora (ASX: ORA) -0.39% also looks interesting at ~$2.55, a very recent addition to the Active Income Portfolio
• Portfolio Manager Harrison Watt on Ausbiz last week calling out a High Conviction (smaller) Stock Idea – Click here to watch
• Iron ore up smalls in Asia, hanging around US$130/mt.
• Gold was flat trading US$1981/oz at our close.
• Asian stocks were mixed, Hong Kong +1.74%, Japan -0.42% and China +0.42%.
• US Futures are flat

ASX 200 Index - Intraday

ASX 200 Index – Weekly Chart for wider context

Broker Moves

• Accent Group Cut to Market-Weight at Wilsons; PT A$1.90
• Accent Group Cut to Neutral at Citi; PT A$1.93

Major Movers Today

Enjoy the night
The Market Matters Team